U.S. to Lease 38 Million Acres in Gulf Next Month

By

Alison Sider

Feb. 7, 2013 3:49 p.m. ET

HOUSTON—The U.S. Department of the Interior said Thursday it has finalized plans to auction oil and gas drilling leases for as much as 38 million acres in the Central Gulf of Mexico next month, giving oil companies a chance to expand their footprint in the booming offshore oil region.

The lease sale scheduled for March 20 in New Orleans will offer all unleased areas in the Central Gulf of Mexico Planning Area, offshore Louisiana, Mississippi, and Alabama, which the department said could lead to the production of as much...